Early last week, CNBC’s “Fast Money,” somewhat infamous for its coverage of markets, continued its incessant coverage of Bitcoin (BTC), calling upon Mark Yusko of Morgan Creek Capital Management to make a guest appearance. Surprisingly, while Yusko hails from the realm of traditional finance, he expressed that cryptocurrencies are likely to succeed over the long haul.

Top hedge fund veteran @MarkYusko admits he was wrong about #bitcoin, but he still calls it a long-term buy. pic.twitter.com/S3wqP4EWWy

— CNBC’s Fast Money (@CNBCFastMoney) November 27, 2018

Opening his comments on the matter, which came after he painted a dreary picture for equity markets, Yusko was straight and to the point, telling viewers that he “loves Bitcoin for the long-term.”

Touching on the arrival of CBOE’s and CME’s BTC futures vehicles, Yusko noted that he totally missed the mark on how these aforementioned contracts would affect this nascent market. He explained that artificial selling pressure (rehypothecation) has been directly placed on BTC, in spite of the fact that said futures aren’t physically-backed. This, of course, was likely said to attribute BTC’s most recent sell-off, which forced the digital asset under $4,000, to a (group of) catalyst(s).

However, he explained that rehypothecation will be phased out of cryptocurrency markets in the future, pending on the adoption of BTC as a viable store of value, which may subsequently catalyze a leg higher. Yusko, further explaining his long-term penchant for Bitcoin, went on to add that $4.6 billion/day in trading volumes is a far cry from the sub-few-hundred million/day seen in the years prior, only accentuating that this industry is flourishing.

‘Buying Today Isn’t A Bad Idea’

Discussing BTC’s most recent decline and a potential bottom, Yusko, the Morgan Creek chief explained that investors “don’t need a very long time horizon at all” to make a nice return on a BTC investment.

This sentiment, which was short, but sweet, has seemingly echoed claims made by other industry insiders on their short-term view on BTC, specifically from an investment perspective.

BlockTower partner Michael Bucella, formerly of Goldman Sachs Canada, recently told the exact same CNBC segment that while he expects for BTC to fall “one leg lower” before bottoming, he expects a subsequent sharp rebound to the upside, which may put short-term speculators well into the green.

20x Upside In BTC Possible Over Next Decade

Returning to his discussion about Bitcoin’s performance over the long haul, Yusko noted that over the next decade, he truly believes that BTC could see a 20x+ upside, adding that crypto, with its asymmetric risk profile, is a rare asset class that can support such a rally.

He explained that when it comes down to the nitty-gritty, Bitcoin is a network, not a currency or company, before adding that the world’s largest corporations are based on networks, not specific products. So, keeping this in mind, he exclaimed:

Networks don’t grow based on economic growth, interest rates, or profits. [Instead,] that grow on technology changes, regulatory changes — we just saw [the SEC’s] Jay Clayton here talking over at Consensus: Invest about how if you break the securities laws, we’re going to punish you. [But] if you don’t, you play in a place like Bitcoin, which we deem a currency. So I think that this [premise] is fantastic.

Yusko’s Colleague, Anthony Pompliano, Also Lauds Crypto, Bitcoin

Yusko’s appearance on Fast Money’s panel comes amid a newfound drive from Morgan Creek, along with other well-known industry savants and startups, to push for positive mainstream coverage of this decade-old, yet ground-breaking innovation.

As reported by Ethereum World News previously, Anthony “Pomp” Pompliano, an overt cryptocurrency advocate, industry bastion and colleague of Yusko, took to Bitcoin’s defense on the CNBC Squawk Box panel, anchored by one seemingly skeptical of cryptocurrencies and their potential.

The former Snapchat and Facebook employee exclaimed that at its core, Bitcoin is the world’s most secure transaction settlement layer, so value in BTC will always exist. He added that cryptocurrencies as a whole are the best performing asset class in the past decade, even ousting the U.S. equities market, which has been on its longest and most notable bull run in decades.